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DSLN Gets Second NASDAQ Extension
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Business New Haven
12/22/2003
By: BNH
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| NEW HAVEN - DSL.net Inc. (NASDAQ: DSLN) on December 15 received an additional extension of the grace period for regaining compliance with the NASDAQ SmallCap Market's minimum bid price rule, which is required for continued listing. The extension now runs through January 30. It supercedes a previous NASDAQ extension that gave the company until December 8 to comply with the $1 closing bid price per-share requirement as set forth in the NASDAQ's Marketplace Rule 4310(c)(4). According to NASDAQ, the addition to the original extension was granted to "allow for further developments in the SEC [U.S. Securities & Exchange Commission] rule-making process." On September 25, NASDAQ amended its proposal, for which it is seeking SEC approval, to modify the grace periods for NASDAQ SmallCap Market companies seeking to regain compliance with the minimum bid price requirement. DSLN stock closed December 16 at 60 cents per share.
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